Eurojust, German-Italy Joint Police Action Dismantles Major Money Laundering Enterprise Across Europe
By Gary Raynaldo DIPLOMATIC TIMES
Eurojust, German, and Italian authorities combined forces to dismantle a major fraud and money laundering organized criminal enterprise across Europe. The joint action conducted Tuesday was led by Germany (the Public Prosecutor’s Office (PPO) Cologne and Police Cologne) and Italy (PPO Bolzano, with the support of Guardia di Finanza Brunico) resulted in the dismantling of an organised crime group (OCG) involved in large-scale financial fraud and money laundering across Europe, according to Eurojust. Cooperation in Spain was provided by PPOs in Pontevedra, Ourense and Majorca, with the support of Guardia Civil, and by PPO Madrid with the support of Policía Nacional, under the general coordination of the GPO Unit for International Cooperation, as well as by the competent investigative courts in the mentioned cities, when necessary. According to Eurojust, various European Investigation Orders (EIOs), freezing orders and European Arrest Warrants (EAWs) were issued and executed prior to (including extensive financial investigations) and during the action day. Based on EAWs issued by PPO Cologne, two suspects were arrested in Spain; another two suspects were arrested in Germany. In a statement, Eurojust said it contributed substantially to the overall success of the action day by setting up a joint investigation team (JIT) between Germany and Italy, providing financial support to the JIT, and facilitating communication with the Spanish national authorities through two coordination meetings and a coordination centre. The coordination centre allowed the national authorities to immediately identify arising needs for cooperation. Eurojust stated that it provided legal assistance, including support in drafting, issuing and executing new measures, to complete the operation and prevent the suspects from keeping their ill-gotten gains.
Approximately € 12 million Said To Have Been Done By The Organised Crime Group
Credit: Eurojust / Authorities secured large quantities of evidence, e.g. paper and digital documents.
During the simultaneous operations, numerous private residences and business premises were searched in Germany (Ratingen, Düsseldorf, Mönchengladbach, Munich and Münster), Spain (Pontevedra, Ourense, Madrid and Majorca) and Switzerland. The majority of the measures were executed in Spain, in which the proceeds of several bank accounts were seized, as well as other assets, such as luxury cars and jewelry. Several bank accounts were frozen in Switzerland and Portugal, Eurojust reported. At the same time, bank accounts were seized and bank safes were searched in Germany. During the searches in all States involved, the authorities managed to secure large quantities of evidence, e.g. paper and digital documents.
The investigations into 14 OCG members were initiated four years ago. The OCG members are suspected of being involved in a scam of fraudulent investments. They had been collecting money from victims to allegedly make profitable investments on their behalf; however, they used the money for their own profit. More than 60 investors in various States have been victimised by the OCG; the total damage amounts to approximately € 12 million. Some of the OCG members are suspected of having also caused financial damages to investors in Italy, using the same modus operandi. A separate investigation was therefore launched in Italy in the interest of the Italian victims.
Eurojust is an agency of the European Union dealing with judicial co-operation in criminal matters among agencies of the member states. It is seated in The Hague, Netherland. Established in 2002, it was created to improve handling of serious cross-border and organised crime by stimulating investigative and prosecutorial co-ordination. Eurojust is composed of a college formed of 28 national members—experienced judges, prosecutors, or police officers of equivalent competence from each EU member state. The terms and duties of the members are defined by the state that appoints them. Eurojust also co-operates with third states and other EU bodies such as the European Judicial Network, Europol and the OLAF.
